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NEED HELP PLEASE ALL INFORMATION IS GIVEN BELOW -Create a journal entries - ledger balances and adjusted ledger balances Nighthawk Services was incorporated in the
NEED HELP PLEASE ALL INFORMATION IS GIVEN BELOW
-Create a journal entries
- ledger balances and adjusted ledger balances
Nighthawk Services was incorporated in the state of VA. The company will provide management consulting services to 1-Jan business and governmental clients. 2-Jan Melon Husk. contributed $200,000 of personal funds to the business in exchange for shares of common stock Nighthawk Services signed a contract to provide consulting services for $40,000 to ABC client. Work is expected to take 3 3-Jan months to complete. No work was completed in January Nighthawk Services received $20,000 from F Corporation for work to be performed - half will be completed by the end of 4-Jan January and half will be completed by the end of February. 5-Jan Nighthawk Services bought $1,000 of office supplies on account 6-Jan Nighthawk Services bought $15,000 of office equipment using cash Nighthawk Services hired 2 consultants that will provide advisory services to Nighthawk and will bill at the rate of $250/HR 7-Jan - invoices will be provided the last day of each month services are provided 8-Jan Nighthawk Services purchased a 12 month insurance contract for $12,000 9-Jan Nighthawk Services paid $3,000 cash for rental of office space for January 10-Jan Nighthawk Services paid $3,500 on account for advertising during January. Nighthawk Services signed a contract with Fed Corp to do business over the year. Nighthawk performed services to Fed Corp in January for $4,000, half was paid in cash and the rest settled on account. Fed Corp will continue the contract at the 11-Jan rate of $4000/ month through June with invoicing at the end of the month. 12-Jan Nighthawk Services purchased $2,200 of supplies using cash Nighthawk Services signed a contract to provide consulting services for $48,000 to VA client. Services to be provided 13-Jan equally over the next 12 months starting in February. Client will be billed at end of each month. 14-Jan Nighthawk Services pays employees $5,000 in salaries Nighthawk Services borrowed $300,000 on a 3% note payable from TrustME Bank. Interest is paid by the 15 th of the 15-Jan month following the accrual. 16-Jan Nighthawk Services purchased Land for $200,000 cash with plans to build an office building within the next year. 17-Jan Nighthawk Services paid $6,700 on account for repairs and maintenace to equipment and the office building Nighthawk Services loans $10,000 to G Corp on a 5% (interest) note receivable. Interest is expected to be received on a 18-Jan quarterly basis. 19-Jan Nighthawk Services pays employees $5,000 in salaries 20-Jan Nighthawk Services performs $8,050 in services to Vector Corp on account, N/60 21-Jan Nighthawk Services purchases $21,000 in stock investments 22-Jan Nighthawk Services gets a \$2,275 bill for utilities used in January 23-Jan Nighthawk Services pays $3,000 in office rent for month of February 24-Jan Nighthawk Services pays $2,000 in dividends to shareholders Nighthawk Services pays $2,700 cash to attend an event to promote business at a convention in January. Determined to be 25-Jan a marketing expense. 26-Jan Nighthawk Services pays \$1,490 cash for taxes 27-Jan Nighthawk Services pays employees $5,000 in salaries 28-Jan Nighthawk Services paid for $700 office supplies previously purchased on account 29-Jan Nighthawk Services has to prepare financial statements for the owner and the bank from which the funds were borrowed. January Month End Adjustments 31-Jan Nighthawk Services calculated $1,500 in depreciation for January usage of equipment 31-Jan Nighthawk Services must recognize the accrued interest on the loan for the month of January 31-Jan Nighthawk Services counted $400 in remaining supplies (on hand supplies) 31-Jan Nighthawk Services owes employees $1,000 in salaries for work performed in January - not recorded at the end of January Are there any other accounts that need adjusting?!! Nighthawk Services was incorporated in the state of VA. The company will provide management consulting services to 1-Jan business and governmental clients. 2-Jan Melon Husk. contributed $200,000 of personal funds to the business in exchange for shares of common stock Nighthawk Services signed a contract to provide consulting services for $40,000 to ABC client. Work is expected to take 3 3-Jan months to complete. No work was completed in January Nighthawk Services received $20,000 from F Corporation for work to be performed - half will be completed by the end of 4-Jan January and half will be completed by the end of February. 5-Jan Nighthawk Services bought $1,000 of office supplies on account 6-Jan Nighthawk Services bought $15,000 of office equipment using cash Nighthawk Services hired 2 consultants that will provide advisory services to Nighthawk and will bill at the rate of $250/HR 7-Jan - invoices will be provided the last day of each month services are provided 8-Jan Nighthawk Services purchased a 12 month insurance contract for $12,000 9-Jan Nighthawk Services paid $3,000 cash for rental of office space for January 10-Jan Nighthawk Services paid $3,500 on account for advertising during January. Nighthawk Services signed a contract with Fed Corp to do business over the year. Nighthawk performed services to Fed Corp in January for $4,000, half was paid in cash and the rest settled on account. Fed Corp will continue the contract at the 11-Jan rate of $4000/ month through June with invoicing at the end of the month. 12-Jan Nighthawk Services purchased $2,200 of supplies using cash Nighthawk Services signed a contract to provide consulting services for $48,000 to VA client. Services to be provided 13-Jan equally over the next 12 months starting in February. Client will be billed at end of each month. 14-Jan Nighthawk Services pays employees $5,000 in salaries Nighthawk Services borrowed $300,000 on a 3% note payable from TrustME Bank. Interest is paid by the 15 th of the 15-Jan month following the accrual. 16-Jan Nighthawk Services purchased Land for $200,000 cash with plans to build an office building within the next year. 17-Jan Nighthawk Services paid $6,700 on account for repairs and maintenace to equipment and the office building Nighthawk Services loans $10,000 to G Corp on a 5% (interest) note receivable. Interest is expected to be received on a 18-Jan quarterly basis. 19-Jan Nighthawk Services pays employees $5,000 in salaries 20-Jan Nighthawk Services performs $8,050 in services to Vector Corp on account, N/60 21-Jan Nighthawk Services purchases $21,000 in stock investments 22-Jan Nighthawk Services gets a \$2,275 bill for utilities used in January 23-Jan Nighthawk Services pays $3,000 in office rent for month of February 24-Jan Nighthawk Services pays $2,000 in dividends to shareholders Nighthawk Services pays $2,700 cash to attend an event to promote business at a convention in January. Determined to be 25-Jan a marketing expense. 26-Jan Nighthawk Services pays \$1,490 cash for taxes 27-Jan Nighthawk Services pays employees $5,000 in salaries 28-Jan Nighthawk Services paid for $700 office supplies previously purchased on account 29-Jan Nighthawk Services has to prepare financial statements for the owner and the bank from which the funds were borrowed. January Month End Adjustments 31-Jan Nighthawk Services calculated $1,500 in depreciation for January usage of equipment 31-Jan Nighthawk Services must recognize the accrued interest on the loan for the month of January 31-Jan Nighthawk Services counted $400 in remaining supplies (on hand supplies) 31-Jan Nighthawk Services owes employees $1,000 in salaries for work performed in January - not recorded at the end of January Are there any other accounts that need adjusting
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